Lofts at Six Mile Creek Construction Update, 6/2015

It won’t be long now, this project is in the home stretch. The protective plastic wrap is off and the product is almost ready to hit the market. The work at the “Lofts@Six MileCreek” site is mostly interior finishing at this point. A few of the exterior panels/window glazing had yet to be finished in these photos from last Friday, but a glance at the project’s facebook page shows that the windows have been installed, but the panelling has yet to be hung. Some other exterior finishes, such as balcony railings, are only partially completed as of now. A formal opening by late summer seems likely, thus completing the last phase of a 15-year project.

Looking at the rental agreement, tenants are allowed to have pets (for a $500 refundable fee and a $50 monthly rent surcharge), no more than two tenants may share a bedroom, and income is expect to be three times rent. 12 month leases only, 1 month’s rent as a security deposit.

With rents ranging from $1,220/month and up, that means that the minimum a tenant can make and live in the building is $43,920/year. A top end 2-bedroom unit, at $2,655/month, requires $95,580/year. The three studios range from $1,220-$1,460/month, one-bedrooms from $2,160-$2,355/month, and two bedrooms from $2,095-$2,655/month. There’s no doubt these are premium prices, and as discussed in the last update on this project, that’s not necessarily a bad thing for everyone else.

The Lofts at Six Mile Creek project consists of a a 7-story, 49,244 square foot structure that will contain 45 rental apartment units: 3 studios, 21 1-bedroom and 21 2-bedroom units. The building is being developed by Bloomfield/Schon + Partners out of Cincinnati, and construction is being handled by Turnbull-Wahlert Construction, also based in Cincinnati.

Leasing is being handled by CSP Management, and interested readers can apply for an apartment here or call 607-277-6961 if they feel so inclined. Questions can be directed to info@IthacaLofts.com.